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Request Now !Power and battery could slow advancements of Internet of Things (IoT) technology. So, these IoT based devices need high capacity batteries and long shelf life to hold sufficient power to run a device and not lose power overtime. Thus, battery selection for IoT devices is crucial as they find their use in various industries such as consumer electronics, home automation, wearable devices, BFSI, industrial, retail, agriculture, aerospace & defense, and healthcare. Innovations in next generation technologies would pave the way for better and improved battery for IoT. The global battery for IoT market is experiencing a significant growth, and is expected to grow considerably in next few years.
Market scope and structure analysis:
           Report Metric |                         Details |
 Market size available for years |  2019–2027 |
 Base year considered |  2019 |
 Forecast period |  2021–2027 |
 Forecast units |  Value (USD) |
 Segments covered |  Type, Rechargeability, End User, and Region |
 Regions covered | North America (US and Canada), Europe (Germany, UK, France, and Rest of Europe), Asia Pacific (China, Japan, India, and Rest of Asia Pacific), Latin America (Brazil, Mexico, and Rest of LATAM) and Middle East and Africa |
 Companies covered | Panasonic Corporation, Duracell Inc., LG Chem Ltd, STMicroelectronics N.V., Ultralife corporation, Samsung SDI Co, Cymbet Corporation, Enfucell OY, Rocket Electric Co. Ltd., SAFT Groupe SA and others |
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Increase in adoption of IoT enabled devices, multi fold rise in use of IoT and increase in applications in advanced and portable equipment boost the battery for IoT market growth. However, availability of substitute products and varying raw material prices hinder the market growth. Moreover, increase in demand for wireless communications, rise in demand for thin and flexible batteries, surge in R&D to develop advanced devices, and investments in automation are expected to fuel the market growth in the future.Â
Partnership was carried between General motors and LG Chem to mass produce battery cells for future battery powered electric vehicles. This enables low cost advanced battery solutions. A new battery management technology that measures electrochemical impedance of batteries to evaluate the residual value of lithium ion batteries in devices was developed by Panasonic in the year 2019. It would be used in applications of devices that contain lithium ion battery modules. Thus, these products boost the battery for IoT market growth.
To ensure integration and connectivity of aircraft, systems, and people to the internet, IoT technology is being used on a large scale in the aerospace industry. Comprehensive machine data is captured by sensors, which are present in various IoT devices. These sensors are critical and are installed in machines, vehicles, and aerospace & defense equipment. Moreover, airlines can improve their baggage handling and equipment monitoring by using IoT. Thus, there is surge in use of battery for IoT in the aerospace & defense industry, which boosts the battery for IoT market share.Â
Key segments covered:
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 Rechargeability |
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Key benefits of the report:
Questions answered in the battery for IoT market research report:
Key Market Segments & Key Market Players
Segments | Sub-segments |
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By Type |
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By Rechargebility |
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By End User |
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By Region |
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Key Market Players |
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